Industry Analysis & Industry Trends
The Hearing Aid Clinics industry has contracted slightly during the past five years as declines in insurance coverage and consumer income combined with rising hearing aid prices. During the next five years, however, the industry is expected to improve, largely due to the implementation of the Patient Protection and Affordable Care Act. In addition, the number of individuals suffering from hearing deficiencies is expected to remain high as a result of the diabetes epidemic, the rising use of mobile music devices and an aging US population.... purchase to read more
Industry Report - Starting a New Business Chapter
The barriers to entry in the Hearing Aid Clinics industry are low, since offices are typically small with relatively inexpensive capital requirements. The most basic industry operator is a sole proprietorship, which has very low start-up costs and can bypass the industry's rent costs if the owner operates a mobile service that does house calls. This sort of operation is possible due to portable audiometers operable with a laptop. Indeed, computers and audiometers are operators' most expensive pieces of equipment, but they do not constitute major barriers to entry since they cost several thousand dollars apiece.
In general, a hearing aid clinic's most valuable resource is its employees, and a start-up must find and pay accredited audiologists and technicians... purchase to read more